Hankook Tire Reports Q1 2025 Sales of KRW 4.96 Trillion and Operating Profit of KRW 354.6 Billion

- Global consolidated earnings include Hanon Systems for the first time following its integration as a subsidiary on January 3, 2025
- Sustained R&D investment in future mobility and growth in high-value-added tire sales
- EV tires accounted for 23% of original equipment (OE) tire sales for passenger cars and light trucks, up 6 percentage points year-over-year

Seoul, Korea, May 9, 2025 — Global leading tire company Hankook Tire & Technology (Hankook Tire) today announced its consolidated financial results for the first quarter of 2025, reporting sales of KRW 4.9636 trillion and operating profit of KRW 354.6 billion.

In this quarter, the consolidated results reflect, for the first time, the performance of Hanon Systems, a global provider of thermal energy management solutions for automobiles, following its acquisition by Hankook Tire in January 2025. As a result, Hankook Tire’s Q1 financial results encompass both its tire and thermal management business segments.

In the tire business, sales rose 10.3% year-over-year to KRW 2.3464 trillion, while operating profit declined 16.3% to KRW 333.6 billion. Despite ongoing R&D investment in future mobility amid global economic uncertainties, rising costs—particularly the rise in raw material costs and ocean freight rates—resulted in a negative impact on profitability. In the thermal management segment, Hanon Systems reported sales of KRW 2.6173 trillion and operating profit of KRW 20.9 billion.

The share of 18-inch and larger passenger car tires in total passenger car and light truck tire sales reached 47.1%, up 0.3 percentage points from a year earlier. Regionally, China posted the highest share at 64.7%, followed by Korea (58.5%), North America (57.1%), and Europe (39.1%), indicating steady growth across global markets. In the original equipment (OE) tire segment for passenger cars and light trucks, EV-dedicated products accounted for 23% of sales, up 6 percentage points from the same period last year.

Revenue growth was driven by increased sales of high-value-added products, supported by the expansion of OE tire supply to global premium automakers and rising demand for EV-dedicated tires aligned with the electric vehicle replacement cycles.

In a notable addition to its global OE partnerships, Hankook Tire began supplying its ultra-high-performance SUV tire, the Ventus evo SUV, as OE fitment for the third-generation Volkswagen Tiguan. This addition builds on the company’s growing partnerships with approximately 50 global premium automotive brands across more than 280 models, including the Mercedes-AMG GT Coupe and BMW M5, further demonstrating its top-tier technological capabilities on the global stage.

As a leading company in EV tire technology, Hankook Tire is also a leading OE supplier for major electric vehicle brands, including Porsche, Audi, BMW, Hyundai, Kia, Tesla, BYD, and Lucid. Since launching iON in 2022—the world’s first full-lineup tire brand dedicated to electric vehicles—the company has diversified its portfolio to include more than 300 specifications ranging from 16 to 22 inches, covering most EV segments.

Hankook Tire also continues to elevate the premium image of its unified global brand “Hankook” and advance its ultra-high-performance tire technologies through active motorsports participation. The company supplies racing tires and supports teams in approximately 70 global motorsports events, including the FIA World Rally Championship, FIA Formula E World Championship, and Lamborghini Super Trofeo. Data and insights gathered from these competitions directly contribute to ongoing R&D efforts, enhancing Hankook’s technological capabilities.

[Reference]
Hankook Tire & Technology (Hankook Tire): Consolidated Financial Results for Q1 2025

Hanon Systems: Consolidated Financial Result for Q1 2025

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